Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

The following details about W Limited relate to the year ended 31 December 2019: retained earnings at 1 January 2019: $22000$ profit from operations: $83000$ dividend paid: $20000$ dividend proposed: $15000$ bank loan interest: $16000$ What amount of retained earnings was there at 31 December 2019?

  • A$32000$
  • B$47000$
  • C$54000$
  • D$69000$

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